Requisite Capital Management LLC Sells 24,650 Shares of Energy Transfer LP $ET

Requisite Capital Management LLC reduced its position in shares of Energy Transfer LP (NYSE:ET) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 500,433 shares of the pipeline company’s stock after selling 24,650 shares during the period. Energy Transfer comprises about 1.6% of Requisite Capital Management LLC’s holdings, making the stock its 8th largest holding. Requisite Capital Management LLC’s holdings in Energy Transfer were worth $9,568,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Texas Yale Capital Corp. boosted its stake in shares of Energy Transfer by 6.1% in the fourth quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after purchasing an additional 75,700 shares during the period. North Star Investment Management Corp. increased its stake in Energy Transfer by 100.1% during the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock worth $2,664,000 after buying an additional 80,786 shares during the period. Summit Securities Group LLC lifted its holdings in Energy Transfer by 179.0% during the 1st quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock worth $3,129,000 after buying an additional 104,000 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in Energy Transfer during the 1st quarter worth approximately $61,760,000. Finally, Sanctuary Advisors LLC boosted its position in Energy Transfer by 15.8% in the 1st quarter. Sanctuary Advisors LLC now owns 1,888,661 shares of the pipeline company’s stock valued at $36,451,000 after buying an additional 257,954 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director James Richard Perry acquired 12,359 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the acquisition, the director owned 208,046 shares in the company, valued at $4,208,770.58. The trade was a 6.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.28% of the company’s stock.

Energy Transfer Trading Down 0.5%

NYSE ET opened at $20.95 on Tuesday. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $21.11. The firm has a 50 day moving average of $19.80 and a two-hundred day moving average of $19.35. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $72.14 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. The business had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company’s revenue was up 78.4% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. As a group, research analysts expect that Energy Transfer LP will post 1.63 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.5%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is currently 92.52%.

Analysts Set New Price Targets

ET has been the topic of a number of recent research reports. Stifel Nicolaus upped their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Royal Bank Of Canada reissued an “outperform” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. Wall Street Zen upgraded Energy Transfer from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.92.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.